Unexplained or undisclosed income occurs when an assessee holds sums or assets that are not recorded…
Category: Income Tax
2025 New Income Tax Bill: What You Need to Know
The new Income Tax Bill 2025 is a big step towards making tax laws clearer. It…
Can relief under Section 89(1) be carried forward?
Short Answer: ❌ No, it cannot be carried forward. Why? Example for Better Understanding: Imagine you…
Alimony and Income Tax: Is Ex-Wife Liable for Settlement?
When you’re going through a divorce, it’s key to know about alimony tax rules. In India,…
NPS Tax Benefits: Explore the Old & New Regime in India
When thinking about saving for retirement, knowing about NPS tax benefits is key. The National Pension…
Income Tax on Cash Spending: What You Need to Know
In India, it’s important to know how cash spending affects your income tax. The Income Tax…
2025 Gratuity Guidelines in India: A Comprehensive Guide
Understanding the latest gratuity rules in India is crucial. The Payment of Gratuity Act, 1972, governs…
India’s Income Tax: Up to 100% Penalty for Cash Transactions
When dealing with cash in India, knowing the penalties is key. You could face up to…
2024 Income Tax Rule Changes That Will Impact ITR Filing
As you get ready for the income tax return (ITR) filing, knowing the latest changes is…